Carl Menger

Carl Menger (23 February 1840-26 February 1921) was an Austrian economist and the founder of the Austrian School.

Biography
Carl Menger was born in Nowy Sacz, Eastern Galicia, Austrian Empire on 23 February 1840, and he became a journalist during the 1860s. In 1871, he published his Principles of Economics, thus becoming the father of the Austrian School of economic thought. In 1873, he became the University of Vienna's chair of economic theory, and he rejected the cost-of-producction theories of value in favor of both sides gaining from exchange. He died in Vienna in 1921.